Raymond James Financial Inc. Purchases New Shares in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Raymond James Financial Inc. purchased a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 99,208 shares of the construction company's stock, valued at approximately $16,712,000. Raymond James Financial Inc. owned about 0.32% of Sterling Infrastructure as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STRL. Advisory Services Network LLC purchased a new stake in Sterling Infrastructure in the fourth quarter worth approximately $223,000. Abacus FCF Advisors LLC purchased a new stake in shares of Sterling Infrastructure in the 4th quarter valued at $695,000. Invesco Ltd. grew its holdings in shares of Sterling Infrastructure by 22.5% during the 4th quarter. Invesco Ltd. now owns 757,273 shares of the construction company's stock valued at $127,563,000 after purchasing an additional 139,081 shares during the last quarter. Bank of Montreal Can purchased a new position in Sterling Infrastructure in the 4th quarter worth $221,000. Finally, Thames Capital Management LLC lifted its stake in Sterling Infrastructure by 162.6% in the fourth quarter. Thames Capital Management LLC now owns 44,760 shares of the construction company's stock worth $7,540,000 after purchasing an additional 27,715 shares during the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Sterling Infrastructure Trading Up 3.0 %

Shares of STRL stock traded up $4.34 during mid-day trading on Friday, reaching $150.34. The stock had a trading volume of 185,839 shares, compared to its average volume of 486,064. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock's 50-day moving average price is $124.33 and its two-hundred day moving average price is $154.24. The firm has a market capitalization of $4.57 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 1.28 and a beta of 1.19. Sterling Infrastructure, Inc. has a 52-week low of $93.50 and a 52-week high of $206.07.

Wall Street Analyst Weigh In

STRL has been the topic of several analyst reports. William Blair assumed coverage on Sterling Infrastructure in a report on Friday, January 17th. They issued an "outperform" rating on the stock. DA Davidson raised Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 price target on the stock in a research note on Thursday, February 27th. Finally, StockNews.com lowered Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th.

About Sterling Infrastructure

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.